Insights into the Global Market for CybersecurityTime: Aug. 17, 2020
The global cybersecurity market is expected to grow by 10.65% during the forecast period 2019-2028.
The increasing virus and Trojan attacks between organizations are the main driving force behind the growth of the cybersecurity market. Attackers often use this malware to control devices and generate financial benefits. Acceptance of the cloud computing model is increasing due to its flexible infrastructure option. It is also expected to drive market growth.
The introduction of BYOD (bring your own device) and IoT (Internet of Things) has increased the risk of advanced persistent threats and thus created a demand for cybersecurity solutions. However, complex device security designs limit the market. The lack of professionals in cybersecurity is also a great challenge for the growth of the market.
The global market report covers countries in North America, Europe, Asia-Pacific, Latin America, as well as the Middle East and Africa.
The Asia Pacific region is estimated to be the fastest growing region for the cybersecurity market during the forecast period. The growing number of connected devices in the region and the technologically advanced use of mobile devices are the main driving forces behind the growth of cybersecurity in the Asia-Pacific region. Increasing cyber attacks in countries like South Korea are necessitating the cybersecurity market. For example, in 2014 there was a cyber attack on the hydroelectric power station in Korea. Several government agencies were previously attacked. These factors are expected to support the growth of the examined market.
The leading companies in the cybersecurity market are Dell Technologies Inc., AVG Technologies, Check Point Software Technologies Ltd., Rapid7, International Business Machines Corporation, Imperva, Palo Alto Networks Inc., Proofpoint Inc., Symantec Corporation, Cisco Systems Inc ., FireEye Inc., Cyber Ark Software Ltd., Fortinet Inc., Trend Micro Incorporated, and Intel Security.
AVG Technologies, acquired by Avast Software sro, is a global company involved in the development and marketing of Internet security software around the world. The company provides identity protection, secure dynamic search, Internet security, online backup, mobile control and location services, remote control, and virtual private network services. AVG Internet Security is the company's product which is advanced antivirus software.